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inn [45]
3 years ago
11

Factors that influence pricing

Business
2 answers:
FromTheMoon [43]3 years ago
7 0

Answer:

competitor, cost from suplliers (will add more later)

Explanation:

Serga [27]3 years ago
5 0
Marketing’s four Ps – product, price, promotion and placement – are the basic components of any marketing mix. The decisions you make with regard to all of these elements can mean the difference between success and failure. There are many factors that will have an influence on how you set the price for your product or service, with some of them internal and some external, and most of them will fluctuate over time.

Effect of Competition
A competitive pricing strategy, where prices for a product or service are set based primarily on the prices of the competition, is best suited for a price-sensitive and highly competitive market. Whether you use this type of strategy or not, you should always take your competition’s pricing into account when setting your own pricing, unless you hold a monopoly. If consumers perceive your product and your competition’s as having equal value, you could lose out in a big way if your competitor’s price is lower than yours is.

Market Demand Pricing
The laws of supply and demand should always come into play when setting your pricing. If a product is in high demand, particularly if demand exceeds supply, then the market can bear a higher price. Conversely, if demand dwindles, consumers will not be willing to pay higher prices. Your pricing should remain relatively stable over time, but you can put promotions in place to discount the price when needed.

Price is a Part of Brand Strategy
Setting your prices without a thorough grasp of your brand objectives can destroy any brand-building efforts. Your price is a part of your brand image. Think about Walmart, which has built its entire brand around low pricing, or Tiffany & Co., whose consumers expect high-end pricing. If your products’ prices are not in line with your brand image, you will most likely confuse consumers instead of convert them.

Cost of Goods Sold
If you want to make a profit on the sale of your products, you must charge a higher price than what it cost you to actually produce and transport them. The cost of goods sold almost always plays an integral role in any pricing strategy. The exception to this is if you are promoting your product as a loss leader.

A loss leader is a product that is sold below cost as an incentive for consumers to purchase other products at normal prices. Many mobile carriers, for example, sell cell phones at hugely discounted rates so that consumers will sign on for one of their cell phone service packages.
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Foster, Inc., purchased a truck by paying $5,000 and borrowing the remaining $30,000 required to complete the transaction. Ident
neonofarm [45]

Answer: c. Foster Inc.'s assets will decrease by a net amount of $30,000.

d. The Company's liabilities will increase by $30,000.

Explanation:

From the question, Foster, Inc., bought a truck by paying $5,000 and then borrowed the remaining $30,000 that was required to complete the transaction.

Since the company borrowed $30,000, this will lead to an increase in the liability of the company by $30,000. Also, it will lead to a reduction in the net assets of the company by a net amount of $30,000

6 0
3 years ago
FedEx is the world's leading express-distribution company. In addition to the world's largest fleet of all cargo aircraft, the c
andriy [413]

Answer:

Journal entries

Explanation:

Before passing the journal entries, first we have to determine the book value of truck which is

= Cost of delivery truck - accumulated depreciation

= $56,000 - $41,300

=  $14,700

Now the journal entries are as follows

a. Cash Dr $14,700

Accumulate depreciation $41,300

      To Delivery truck $56,000

(Being the disposal of the truck is recorded)

b)  Cash Dr $16,400

Accumulate depreciation $41,300

      To Delivery truck $56,000

       To Gain on sale $1,700

(Being the disposal of the truck is recorded)

c) Cash Dr $12,900

Accumulate depreciation $41,300

Loss on sale $1,800

      To Delivery truck $56,000

(Being the disposal of the truck is recorded)        

4 0
2 years ago
Why is the leaf washed with distilled water​
Aliun [14]
To remove almost all of the sodium and minerals
3 0
2 years ago
What is another way to express class rank?
Vadim26 [7]

Answer:

The answer is C.

Explanation:

Class rank is a measure of how a student's performance compares to other students in his or her class. It is commonly also expressed as a percentile.

8 0
3 years ago
Read 2 more answers
Both supply and demand concepts rest on the relationship between quantity supplied or demanded.
Rashid [163]

Answer:

False

Explanation:

Both supply and demand concepts rest on the relationship between price and quantity.

Quantity demanded increase when price falls and falls when price increases.

Quantity supplied increases when price increases and falls when price falls.

The demand and supply curve are plotted with price on the y axis and quantity on the x axis.

I hope my answer helps you

7 0
3 years ago
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